This is BTCUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4 hr candles.

You can find price analysis from previous days on blog here and on Tradingview here.


Analysis Summary

Market in last 24hrs

  • BTCUSD saw an uptrend and later rejected from upper band
  • Price volatility was low. The market moved ~1.46%, between $11.73k and $11.56k

Today’s Trend analysis

  • BTCUSD expected to see a slight uptrend as the price is trading between upper and midline band with higher lows
  • Price at time of publishing: $11,690
  • BTC’s market cap: $215 Billion
  • Oscillator indicators are mostly neutral. RSI at 54
  • Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase in the blue candles and a decrease in red candles

Price expected to see a slight uptrend as the price is trading between upper and midline band with higher lows. Most of the Oscillator indicators are neutral. MACD approaching the signal line from above, with histogram size decreasing in the positive direction. RSI at 54, above to the midline still in the neutral region. CCI at around 86, in the neutral region after a pull back from overbought region. Another interesting point to notice here is that the volume in the recent candles saw an increase with blue candles and a decrease with red candles suggesting a strong buying pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 86 in the neutral region. RSI above the midline around 54 still in the neutral region.

Definition:- Oscillator indicators are based on the market’s property that what goes up must come down. Reversion to the mean is one of the most fundamental properties of any market. Oscillators are predictive in nature, specifying future price momentum.

SellNeutralBuy
092
NameValueAction
Relative Strength Index (14)52.19Neutral
Stochastic %K (14, 3, 3)68.44Neutral
Commodity Channel Index (20)86.23Neutral
Average Directional Index (14)18.57Neutral
Awesome Oscillator173.49Neutral
Momentum (10)59.88Buy
MACD Level (12, 26)41.74Buy
Stochastic RSI Fast (3, 3, 14, 14)56.52Neutral
Williams Percent Range (14)−47.35Neutral
Bull Bear Power17.16Neutral
Ultimate Oscillator (7, 14, 28)55.35Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating an uptrend. Ichimoku Cloud is neutral and Hull MA is indicating a selling opportunity.

Definition:- Moving Average indicators are lagging indicators that help catch trends when they are beginning to take effect. The idea is to buy when the trend is moving up and sell when the trend is falling.

SellNeutralBuy
719

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)11626.58Sell
Simple Moving Average (5)11651.13Sell
Exponential Moving Average (10)11609.81Sell
Simple Moving Average (10)11615.69Sell
Exponential Moving Average (20)11569.89Buy
Simple Moving Average (20)11558.12Buy
Exponential Moving Average (30)11555.35Buy
Simple Moving Average (30)11498.98Buy
Exponential Moving Average (50)11564.96Buy
Simple Moving Average (50)11532.5Buy
Exponential Moving Average (100)11569.62Buy
Simple Moving Average (100)11689.18Sell
Exponential Moving Average (200)11332.33Buy
Simple Moving Average (200)11595.61Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)11426.86Neutral
Volume Weighted Moving Average (20)11538.74Buy
Hull Moving Average (9)11660.19Sell

Trade volume

In recent few candles, the volume observed an increase as blue candles were observed i.e. the price increased and saw a decrease afterward as the red candles were observed i.e. the price decreased. The volume increased from 385 to 1.13k and decreased to 755 afterward with the 20-candle moving average decreasing from 1.51k to 1.14k.


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